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[English Version of the news article]
New Paradigm Investment (hereafter referred to as New Paradigm), a firm specializing in scaling up early-stage startups, announced on the 14th that it has made a seed investment in the startup ‘Countdown AI’ (COUNTDN AI, CEO Kim Sang-hee), which has developed image and video editing apps utilizing generative AI technology.
Countdown AI aims to provide practical and enjoyable services for everyday use by applying cutting-edge generative AI technology in photo and video enhancement, based on core AI technology and global expertise. These AI enhancer functions offer users practical solutions, such as improving photo clarity and resolution, adding colors, and restoring images.
Kim Sang-hee, CEO of Countdown AI, said, “We have recently completed development of a ‘video enhancement’ feature for upscaling video resolution, and we plan to launch a subscription service early next year. After reaching one million users, we aim for a subscription conversion rate of 5%–15%. We plan to expand both active users and revenue streams through a new AI API subscription service and by monetizing through ads viewed when users download the app.”
In June of this year, Countdown AI launched the beta service of its image enhancement and editing app ‘MeeAww.’ Using the latest AI technology, ‘MeeAww’ is a powerful photo restoration tool that significantly enhances and restores photo quality, outperforming traditional AI photo enhancement tools. The app automatically corrects defects and improves photo quality through AI.
Notably, ‘MeeAww’ successfully launched its resolution-enhancement service using the AI Enhance feature in August, reaching 175 countries and experiencing rapid growth. According to Google Analytics, the app recorded impressive results with 220,000 monthly active users (MAU), a 63% retention rate, 420,000 active users, and over 3.8 million AI-generated photos.
‘MeeAww’ was completed in just three months, from team formation to app development, and attracted 100,000 new users within three weeks of its official launch. The company continues to develop its AI features based on data, delivering user-friendly UX for AI-generated content and consistently expanding its capabilities.
Park Je-hyun, CEO of New Paradigm Investment, stated, “The generative AI technology market is expected to grow to a scale of 47 trillion KRW by 2028. Countdown AI has top-level professionals capable of handling all aspects of service planning, design, development, and operations with generative AI technology, which will enhance its competitiveness in this fast-growing market. Starting in January next year, Countdown AI will push for monetization, aiming for a global user base of one million through new services and paid subscriptions, with strong potential for expansion into global markets including North America.”
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